Australian lithium miners extend gains after UBS sharply hikes price outlook

Pls

08/12/2025 03:38

** Australian lithium miners extend gains from Friday after UBS hikes lithium price forecasts for 2026, 2027, 2028 by 64%, 148%, 94% respectively

** Brokerage sees price gains from Battery Energy Storage System (BESS)-driven demand more than doubling FY27, FY28 earnings for pureplay miners IGO IGO.AX, Liontown LTR.AX, PLS Group PLS.AX

** Liontown jumps 9.3%; marks biggest intraday pct gain since November 20

** PLS gains 4.7%; IGO rises 2.7%

** UBS upgrades PLS, IGO to "neutral" from "sell", Liontown to "buy" from "sell"

** However, mining sub-index .AXMM down 0.9%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))